Russia’s central bank lowered its benchmark interest rate to 20 percent on Friday, easing it from a two-decade peak of 21 percent as signs of economic cooling and easing price pressures emerged.The move marked the regulator’s first rate cut since September 2022 and followed growing calls from businesses and political quarters who said the high…
Amid rising concern over the economic fallout of President Donald Trump’s sweeping tariffs and federal workforce cuts, US employers added 139,000 jobs in May — a slowdown from the previous month, but still a sign of resilience in a jittery economy.Hiring eased from a revised 147,000 in April, while the unemployment rate held steady at…
India’s foreign exchange reserves slipped by $1.24 billion to $691.49 billion in the week ending May 30, according to data released by the Reserve Bank of India on Friday. Despite the decline, the central bank said the reserve buffer remains robust. “At $691.5 billion, the reserves are sufficient to cover 11 months of imports and…
US stock futures edged higher on Friday as markets awaited key labour data, while shares of Tesla rebounded following signs of de-escalation in the high-profile spat between CEO Elon Musk and President Donald Trump.Tesla’s stock jumped 4.2% in premarket trade, clawing back some of the steep 15% loss it suffered on Thursday after Trump threatened…
As political tensions flare, experts warn that Elon Musk’s empire, built on public funding, could face steep fallout. At the intersection of ambition and politics, Elon Musk’s multibillion-dollar space and electric vehicle empire may soon be at the mercy of President Donald Trump. Despite being a vocal critic of government subsidies, Musk’s companies—SpaceX and Tesla—have…
A widening supply gap for rare earth magnets is threatening to disrupt India’s electric vehicle manufacturing, with a Jefferies report warning that domestic firms may soon hit a dead-end unless alternative sourcing or stockpiling solutions are found.Several Indian EV makers are reportedly struggling to secure magnet imports from China, which are essential for producing EV…
India’s automobile sector has welcomed the Reserve Bank of India’s latest rate-cut move, calling it a timely intervention that could improve financing access, strengthen consumer sentiment, and support overall retail growth.On Friday, the RBI reduced the repo rate by 50 basis points to 5.5% and cut the Cash Reserve Ratio (CRR) by 100 basis points…
BENGALURU: Uber Technologies appointed Palo Alto Networks CEO Nikesh Arora to its board of directors, according to a regulatory filing with the US Securities and Exchange Commission (SEC). Arora will also join the company’s nominating and governance committee and the compensation committee. TNN Source link
MUMBAI: In a move that jolted markets and defied expectations, the Reserve Bank of India cut its benchmark policy rate by 50 basis points and announced a Rs 2.5 lakh crore liquidity infusion via a 100 basis point reduction in the cash reserve ratio (CRR). The CRR cut reduces the portion of deposits banks must…
Asian shares traded mostly higher on Friday as investors awaited a crucial update on the US job market, which could provide fresh signals on the health of the world’s largest economy.Tokyo’s Nikkei 225 rose 0.5% to 37,730.67, while South Korea’s Kospi jumped 1.5% to 2,812.05. While, Hong Kong’s Hang Seng fell 0.4% to 23,817.10, and…